ArQule, Inc. (ARQL) to Post Q1 2018 Earnings of ($0.05) Per Share, Leerink Swann Forecasts

ArQule, Inc. (NASDAQ:ARQL) – Stock analysts at Leerink Swann issued their Q1 2018 earnings per share estimates for shares of ArQule in a research report issued to clients and investors on Thursday, April 5th. Leerink Swann analyst J. Chang expects that the biotechnology company will post earnings of ($0.05) per share for the quarter. Leerink Swann has a “Outperform” rating on the stock. Leerink Swann also issued estimates for ArQule’s Q2 2018 earnings at ($0.09) EPS, Q3 2018 earnings at ($0.09) EPS, Q4 2018 earnings at ($0.08) EPS, FY2018 earnings at ($0.31) EPS and FY2019 earnings at ($0.35) EPS.

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ArQule (NASDAQ:ARQL) last issued its quarterly earnings data on Monday, March 5th. The biotechnology company reported ($0.09) earnings per share for the quarter, hitting the consensus estimate of ($0.09). During the same quarter in the previous year, the company posted ($0.10) EPS.

Other analysts also recently issued research reports about the stock. Zacks Investment Research upgraded shares of ArQule from a “hold” rating to a “buy” rating and set a $3.25 price objective for the company in a research report on Friday, March 30th. B. Riley set a $4.00 price objective on shares of ArQule and gave the stock a “buy” rating in a research report on Monday, March 26th. Roth Capital started coverage on shares of ArQule in a research report on Thursday, February 22nd. They set a “buy” rating and a $5.00 price objective for the company. Needham & Company LLC upgraded shares of ArQule from a “hold” rating to a “buy” rating in a research report on Thursday, December 14th. Finally, BidaskClub downgraded shares of ArQule from a “strong-buy” rating to a “buy” rating in a research report on Saturday. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. ArQule currently has a consensus rating of “Buy” and an average target price of $4.08.

Shares of NASDAQ:ARQL opened at $2.85 on Monday. The company has a market cap of $248.26, a PE ratio of -7.31 and a beta of 0.83. The company has a quick ratio of 4.98, a current ratio of 4.98 and a debt-to-equity ratio of 1.03. ArQule has a twelve month low of $0.92 and a twelve month high of $3.35.

In other news, insider Value Fund L. P. Biotechnology sold 2,301,581 shares of the business’s stock in a transaction that occurred on Wednesday, April 4th. The shares were sold at an average price of $2.90, for a total transaction of $6,674,584.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 9.00% of the stock is currently owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in the stock. Millennium Management LLC purchased a new stake in ArQule in the 4th quarter valued at $165,000. BVF Inc. IL raised its position in ArQule by 122.1% in the 4th quarter. BVF Inc. IL now owns 16,436,912 shares of the biotechnology company’s stock valued at $27,121,000 after purchasing an additional 9,036,784 shares during the last quarter. Deutsche Bank AG purchased a new stake in ArQule in the 4th quarter valued at $390,000. Renaissance Technologies LLC raised its position in ArQule by 15.9% in the 4th quarter. Renaissance Technologies LLC now owns 2,295,703 shares of the biotechnology company’s stock valued at $3,788,000 after purchasing an additional 315,203 shares during the last quarter. Finally, Virtu Financial LLC raised its position in ArQule by 343.8% in the 4th quarter. Virtu Financial LLC now owns 129,038 shares of the biotechnology company’s stock valued at $213,000 after purchasing an additional 99,964 shares during the last quarter. Hedge funds and other institutional investors own 67.08% of the company’s stock.

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About ArQule

ArQule, Inc, a biopharmaceutical company, researches and develops therapeutics for the treatment of cancer and rare diseases in the United States. Its lead product candidate is tivantinib (ARQ 197), a small molecule inhibitor of the c-Met receptor tyrosine kinase and its biological pathway, which is in Phase III clinical trial for the treatment of liver cancer.

Earnings History and Estimates for ArQule (NASDAQ:ARQL)

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